Loans Receivable Held for Investment (Tables)

12 Months Ended

Dec. 31, 2019

Loans Receivable Held for Investment

Schedule of loans receivable held for investment

	December 31, 2019		December 31, 2018
	(In thousands)
Real estate:
Single family	$	72,883	$	91,835
Multi-family		287,378		231,870
Commercial real estate		14,728		5,802
Church		21,301		25,934
Construction		3,128		1,876
Commercial – other		262		226
Consumer		21		5
Gross loans receivable before deferred loan costs and premiums		399,701		357,548
Unamortized net deferred loan costs and premiums		1,328		937
Gross loans receivable		401,029		358,485
Allowance for loan losses		(3,182)		(2,929)
Loans receivable, net	$	397,847	$	355,556

Schedule of activity in the allowance for loan losses by loan type

	For the year ended December 31, 2019
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		– other		Consumer		Total
	(In thousands)
Beginning balance	$	369	$	1,880	$	52	$	603	$	19	$	6	$	—	$	2,929
Provision for (recapture of) loan losses		(57)		439		81		(501)		29		1		1		(7)
Recoveries		—		—		—		260		—		—		—		260
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	312	$	2,319	$	133	$	362	$	48	$	7	$	1	$	3,182

	For the year ended December 31, 2018
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		– other		Consumer		Total
	(In thousands)
Beginning balance	$	594	$	2,300	$	71	$	1,081	$	17	$	6	$	—	$	4,069
Recapture of loan losses		(225)		(420)		(19)		(592)		2		—		—		(1,254)
Recoveries		—		—		—		114		—		—		—		114
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	369	$	1,880	$	52	$	603	$	19	$	6	$	—	$	2,929

Schedule of allowance for loan losses and recorded investment in loans by type of loans and based on impairment method

	December 31, 2019
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		– other		Consumer		Total
	(In thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	60	$	—	$	—	$	85	$	—	$	2	$	—	$	147
Collectively evaluated for impairment		252		2,319		133		277		48		5		1		3,035
Total ending allowance balance	$	312	$	2,319	$	133	$	362	$	48	$	7	$	1	$	3,182
Loans:
Loans individually evaluated for impairment	$	611	$	313	$	—	$	4,356	$	—	$	63	$	—	$	5,343
Loans collectively evaluated for impairment		72,501		288,730		14,818		16,292		3,125		199		21		395,686
Total ending loans balance	$	73,112	$	289,043	$	14,818	$	20,648	$	3,125	$	262	$	21	$	401,029

	December 31, 2018
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		– other		Consumer		Total
	(In thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	53	$	—	$	—	$	170	$	—	$	4	$	—	$	227
Collectively evaluated for impairment		316		1,880		52		433		19		2		—		2,702
Total ending allowance balance	$	369	$	1,880	$	52	$	603	$	19	$	6	$	—	$	2,929
Loans:
Loans individually evaluated for impairment	$	610	$	323	$	—	$	5,383	$	—	$	64	$	—	$	6,380
Loans collectively evaluated for impairment		91,567		232,986		5,800		19,713		1,872		162		5		352,105
Total ending loans balance	$	92,177	$	233,309	$	5,800	$	25,096	$	1,872	$	226	$	5	$	358,485

Schedule of loans individually evaluated for impairment by loan type

	December 31, 2019						December 31, 2018
					Allowance						Allowance
	Unpaid				for Loan		Unpaid				for Loan
	Principal		Recorded		Losses		Principal		Recorded		Losses
	Balance		Investment		Allocated		Balance		Investment		Allocated
	(In thousands)
With no related allowance recorded:
Multi-family	$	313	$	313	$	—	$	323	$	323	$	—
Church		3,491		2,446		—		4,666		2,803		—
With an allowance recorded:
Single family		593		593		60		610		610		53
Multi-family		—		—		—		—		—		—
Church		1,928		1,928		85		2,580		2,580		170
Commercial - other		63		63		2		64		64		4
Total	$	6,388	$	5,343	$	147	$	8,243	$	6,380	$	227

Schedule of average of loans individually evaluated for impairment by loan type and related interest income

	For the year ended December 31, 2019				For the year ended December 31, 2018
			Cash Basis				Cash Basis
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
		(In thousands)
Single family	$	626	$	29	$	618	$	30
Multi-family		318		22		329		23
Commercial real estate		—		—		—		—
Church		5,017		939		7,893		398
Commercial – other		63		5		64		4
Total	$	6,024	$	995	$	8,904	$	455

Schedule of aging of the recorded investment in past due loans by loan type

	December 31, 2019
	30-59		60-89		Greater than
	Days		Days		90 Days		Total
	Past Due		Past Due		Past Due		Past Due		Current		Total
	(In thousands)
Loans receivable held for investment:
Single family	$	18	$	—	$	—	$	18	$	73,094	$	73,112
Multi-family		—		—		—		—		289,043		289,043
Commercial real estate		—		—		—		—		14,818		14,818
Church		—		—		—		—		20,648		20,648
Construction		—		—		—		—		3,125		3,125
Commercial – other		—		—		—		—		262		262
Consumer		—		—		—		—		21		21
Total	$	18	$	—	$	—	$	18	$	401,011	$	401,029

	December 31, 2018
	30-59		60-89		Greater than
	Days		Days		90 Days		Total
	Past Due		Past Due		Past Due		Past Due		Current		Total
	(In thousands)
Loans receivable held for investment:
Single family	$	35	$	—	$	—	$	35	$	92,142	$	92,177
Multi-family		—		—		—		—		233,309		233,309
Commercial real estate		—		—		—		—		5,800		5,800
Church		—		—		—		—		25,096		25,096
Construction		—		—		—		—		1,872		1,872
Commercial – other		—		—		—		—		226		226
Consumer		—		—		—		—		5		5
Total	$	35	$	—	$	—	$	35	$	358,450	$	358,485

Schedule of recorded investment in non-accrual loans by loan type

	December 31, 2019		December 31, 2018
Loans receivable held for investment:	(In thousands)
Single family	$	18	$	—
Church		406		911
Total non-accrual loans	$	424	$	911

Schedule of risk categories of loans by loan type

	December 31, 2019
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	73,094	$	—	$	—	$	18	$	—	$	—
Multi-family		288,251		411		—		381		—		—
Commercial real estate		14,818		—		—		—		—		—
Church		16,546		411		—		3,691		—		—
Construction		3,125		—		—		—		—		—
Commercial – other		199		—		—		63		—		—
Consumer		21		—		—		—		—		—
Total	$	396,054	$	822	$	—	$	4,153	$	—	$	—

	December 31, 2018
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	92,132	$	—	$	35	$	10	$	—	$	—
Multi-family		232,642		—		—		667		—		—
Commercial real estate		5,800		—		—		—		—		—
Church		19,678		672		—		4,746		—		—
Construction		1,872		—		—		—		—		—
Commercial – other		162		—		—		64		—		—
Consumer		5		—		—		—		—		—
Total	$	352,291	$	672	$	35	$	5,487	$	—	$	—